Economic growth in a mountain region: the Republic of Tyva

Trends and challenges of the economic growth, i.e. the dynamics of the Gross Regional Product, volume of industrial production, including mining, are identified based on the analysis of statistical data for 2020–2024. It was noted that the dynamics of a number of macroeconomic indicators in the Republic of Tyva was unstable and characterized with significant fluctuations. Considerable attention is paid to the effects of commercial bank loans and government investments on the indicators of macroeconomic dynamics in the Republic of Tyva, i.e. growth of the Gross Regional Product, volume of industrial production, investments in fixed assets. It has been determined that although the role of loans in financing expanded reproduction is increasing, it is nevertheless insufficient. This does not allow to reduce the lag in the macroeconomic indicators of Tyva from the average values in for Russia. It has been revealed that the region possesses significant reserves to increase the macroeconomic effect, strengthen the influence of credit provision on the dynamics of social and economic processes.